DeFI News by Thebittimes.Com

PayPal is about to make crypto transfers in the US easier with one-time payment links for Bitcoin, Ethereum, PYUSD, and other tokens. Users will be able to generate a single-use link in the app to send payments via text, email, or direct message, according to a press release . Links expire after ten days, and transfers between friends and family via PayPal and Venmo are exempt from 1099-K reporting, meaning users won’t have to file extra tax forms for these transactions. The move signals a push to makes crypto payments more practical for everyday use. PayPal plans to expand the feature internationally and allow one-time crypto payments for a broader range of cryptos, signaling a push to take digital assets mainstream. Launching today: PayPal links 🚀 Send and receive money as easily as sending a message–just share a one-time link by text, DM, or email. Live now in the US, and more markets soon. Coming next: crypto support for peer-to-peer via the PayPal app...

After recently launching the PYUSD stablecoin, PayPal is reportedly looking for new opportunities in NFTs (non-fungible tokens) and layer-2 networks. Specifically, the firm is looking into blockchain validation, payments between different network layers, and digital asset recommendations in the metaverse, according to patent documents that have surfaced recently. The patent papers were initially filed in March 2022 but were published only on Thursday. The document mentions how to choose miners or validators in the process of adding transactions to a blockchain. According to the document, PayPal’s methods could “advantageously allow steering of blockchain requests to a desired subset of miners/validators.” Also Read: PYUSD: Crypto.com Partners With PayPal, Paxos Three other patent documents, also filed in March 2022, were released on Sept. 21. One spoke of new “methods” to enable off-chain transactions via non-fungible token marketplaces. Another talks about an “omn...